Florida developer who abandoned EB-5 project — and defense of fraud accusations — is ordered to pay $26.5 million to investors

  • Written by GCBI Team Posted on February 25, 2021 | Updated on February 25, 2021 | 1 min read

A Florida judge has ordered Joseph Walsh Sr. and his son, Joseph Walsh Jr., to pay 41 investors $646,000 each, to cover their capital investment in an abandoned Palm Beach hotel project, plus interest. Walsh Sr. abandoned his case by failing to show up for three scheduled depositions and respond to court-ordered written discovery requests. The investors, who were denied Green Cards, claim they were induced to invest in the project by marketing materials which made material misrepresentations.

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